Fugro Q3 Revenue Jumps
Dutch deep-sea prospector Fugro has reported a 29.1 percent rise in third-quarter revenue on a comparable basis, driven by the expansion of offshore wind developments and a recovery in the global oil and gas market.Rising oil prices have helped Fugro by making it more economic to prospect for the hard-to-reach subsea deposits in which it specializes."In our early cyclical marine site characterisation activities we are experiencing sharp growth and improving prices, resulting in strongly improved profitability…
Fugro H1 Profit Boosts Shares
Dutch deep-sea prospector Fugro on Wednesday surprised the market with a first-half profit, driven by strong growth in offshore wind projects, sending its shares sharply higher.The company, hit by a downturn in the oil sector in recent years, reported first-half earnings before interest and tax (EBIT), excluding exceptional items, of 4.0 million euros ($4.7 million) compared with a year-earlier loss of 25.3 million euros.Analysts in a poll conducted for the company had on average expected an EBIT loss ex-items of 1.9 million euros.Fugro shares traded in Amsterdam were up nearly 7 percent at 13
Wärtsilä to Assist Transocean with Thruster Maintenance
Wärtsilä and Transocean will optimize the maintenance of all Wärtsilä thrusters installed within the Transocean fleet, while seeking to reduce dry-docking costs by extending the service intervals of the thrusters. The agreement aims to deliver fewer interruptions to operations, which will result in benefits for both parties.The performance-based agreement builds on the Wärtsilä Propulsion Condition Monitoring Service (PCMS), that collects performance data from the thrusters and delivers it to a Wärtsilä Expertise Centre for analysis. Service experts analyses the data and determine a flexible maintenance schedule for each piece of equipment based on the actual condition of the equipment.The agreement covers five semi-submersible rigs and one drillship…
HEECO Eyes New Markets for Expansion
The Humber Electrical Engineering Company (HEECO) in the United Kingdom has consolidated its marine presence and developed into new oil and gas markets.The Hull-based electrical manufacturing business is known for the design and build of switchboards, motor control centers (MCCs) and control panels for the marine and energy sectors as well as the programming of Programmable Logic Controllers (PLCs) and the provision of electrical design solutions.Celebrating its 110th anniversary this year…
Maritime Simulation: High-tech Meets Practical Skills
When talk turns to ‘Maritime Simulation’ visions of high-tech bridge simulators with seamless graphics and interwoven component simulators – engine room, DP systems, cargo loading – come to mind. But modern simulation is so much more, a wholistic visual, audio, tactile and cereberal experience that prepares mariners to deal with a bevy of real-world situations. Modern maritime simulation has evolved rapidly, driven by exponential leaps in computer and graphic display power, a…
Kvaerner Invests in New Quay at Stord
Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and this extension will position Kvaerner for deliveries of new solutions to both oil and gas projects and other market segments," said Kvaerner president & CEO, Jan Arve Haugan. The investment is subject to approval by Kvaerner's Board of Directors within a short period of time.
Salalah Port Expanding Services for 2018
The Port of Salalah completed its first ship to ship transfer operation (STST) at Salalah anchorage recently as part of the port’s expanding service offering in 2018. . The new service was performed by Fendercare Marine which transferred vegetable oil between the vessels NCC Nasma to Ariana while both were in the harbor anchorage. Port of Salalah CEO Andrew Dawes said “Our vision is to make our customer’s supply chains work better, more efficiently and safer. Our new offering of ship to ship transfer of bulk liquids is designed to serve the regional market and Africa’s economic demand.
Sentinel Awarded Contract for Patrol Vessel Charter
Aberdeen-based Sentinel Marine has been awarded a contract to provide a patrol vessel to be chartered by the European Fisheries Control Agency (EFCA) in international and EU waters. Lundy Sentinel is one of the firm’s growing fleet of new built multi-role emergency response and rescue vessels (ERRVs). The contract to charter the Lundy Sentinel is for an initial period of two years, with an option to extend for a further two years. The framework contract provides for a maximum amount of 20m Euros in four years. It was awarded following tender.
ABS Partnership Enhances Safety in Ghana’s Offshore Industry
ABS, a leading provider of classification and technical services to the marine and offshore industries, formed a joint venture with Notabene Classification Limited to offer regulatory and technical support services, including key classification services to the upstream oil and gas market in Ghana. “This joint venture is an important milestone and demonstrates our strong commitment to advancing safety in all parts of the globe,” said ABS Executive Vice President, Global Offshore, Kenneth Richardson.
GMG Acquires Fugro’s Trenching, Cable Laying Business
Global Marine Group (GMG) will acquire Fugro’s trenching and cable laying business in exchange for an equity stake of around 24 percent in the combined business valued at $65 million, and a one year secured vendor loan of $ 7.5 million. Fugro said it will realize a gain on this transaction, valued at approximately $73 million. GMG is a supplier of subsea cable installation and maintenance services in the telecoms, offshore renewables, power and oil and gas market segments. The…
Boskalis Acquires Subsea Survey Firm Gardline
Netherlands based Royal Boskalis Westminster N.V. said it has acquired all shares of the U.K. based Gardline Group, a firm specializing in marine geophysical surveys, offshore geotechnical services and environmental surveys. The consideration paid including assumed debt amounts to approximately £40 million ($51.4 million). Gardline was established in 1969 and was a second-generation family-owned business with principal offices in Great Yarmouth, U.K. with further activities in the U.S., Brazil and Singapore.
GranInvestimentos and Royal IHC Join Forces
Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America. The association came into effect when IHC acquired a 50 percent share of GranEnergia – a subsidiary of GranInvestimentos that is active in the oil and gas market. The new partnership will be named GranIHC Services. It will provide integrated services to customers in the oil and gas industry in the fields of offshore maintenance and repair, logistical services and infrastructure facilities.
DNV GL's Tørstad Talks Energy Trends
When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved, and the 40-month period between her ascension to the top post and our meeting with her in Houston in May 2017 has been arguably the most tumultuous in the oil industry’s history. Tørstad shares with Maritime Reporter & Engineering News her insights on the market going forward. With the energy slump entering its fourth year…
Total E&P Charters Bibby WaveMaster 1
Bibby Marine Services said it has signed a contract with Total E&P Netherland to charter the new Damen designed and built walk-to-work’(W2W) service operationvVessel Bibby WaveMaster1 from April 2018 through to October 2018, with options to extend up to three years. Total E&P Nederland will use the Bibby WaveMaster 1 to replace jack ups and helicopters and to provide access to gas platforms in the southern North Sea. The vessel will provide accommodation for up to 90 pax including crew.
Ampelmann Debuts S-type Walk-to-Work System
Dutch company Ampelmann says it has designed its latest motion compensation access system, the S-type, as a cost effective and safe option in the transportation of workers and luggage to and from offshore platforms. The company, a provider of offshore access systems to the energy industry, is launching the new Walk-to-Work system as an alternative to using helicopters or baskets. In total, the cost of using the system will be around 30 perceent cheaper than helicopters, the manufacturer said. The S-type incorporates a lightweight system that uses a low amount of energy to operate.
Damen Shiprepair Cuts 150 Jobs
Damen Shiprepair & Conversion (DSC) plans to lay off around 150 workers as part of its reorganisation program at three Dutch yards within its group. All employees at the three locations — Damen Shiprepair Rotterdam (DSR), Damen Shiprepair Van Brink (DSVB) and Damen Shiprepair Vlissingen (DSVl) — have been informed, along with the workers' council and trade unions. It is the intention of DSC to complete the reorganization before summer 2017. Making matters worse, market expectations for the short and medium term are not positive.
Fugro Bags Australian Subsea Contract
Fugro has been awarded a contract from INPEX Operations Australia Pty Ltd (INPEX) for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 kilometres from the coast of Western Australia. INPEX is Japan’s largest oil and gas exploration and production company. The five year contract encompasses field operations support, inspection, repair and maintenance (IRM) services and will run for five years, with options to extend. Fugro will provide all services through its office in Perth. The work will be performed under Fugro's QHSE system, which is in accordance with industry leading QHSE and operational standards.
Interview: Remi Eriksen, CEO of DNV GL
At SMM 2016 in Hamburg Maritime Reporter & Engineering News had the opportunity to sit with Remi Eriksen, the CEO of DNV GL. After his first year on the job in the top spot, Eriksen shares with MR his blunt assessment of the maritime and offshore O&G markets in the near-term, and discusses DNV GL’s role in these key markets as they re-emerge in the coming years. It has now been just more than one year since you took the top spot at DNV GL. What were your expectations and goals coming in, and how have they changed?
Mermaid Terminates Newbuild Drilling Rigs Contract
Mermaid Maritime and China Merchants Industry Holdings (CMIH) have mutually agreed to cancel the construction contract for the construction of tender assist drilling rigs to be named ‘MTR-3’ and ‘MTR-4’ respectively. All pre-paid installments and associated costs were already recorded as asset-impairments in Mermaid’s 2015 Financial Statements. No further payments are due to the Builder. The contract price for each of the Rigs (which is inclusive of rig equipment spares) was USD 149 Million). This is equivalent to USD 298 Million for both Rigs.
Crowley's Petroleum Transport Unit Takes the Long View
The mantra at Crowley is “safety” and “people,” but it’s not simply words, rather embedded practice starting from the top. Robert Grune, SVP & GM, Crowley Petroleum Services talks to Maritime Reporter regarding this ubiquitous company’s historic success and promising future in the petroleum transport sector. Robert Grune leads one of Crowley’s six business units, responsible for U.S. flag Jones Act oil transportation business. The current fleet consists of 17 Articulated Tug Barges (ATBs) ranging in size from 150,000 to 330,000 barrels capacity, as well as four U.S. flag MR oil tankers.
Braemar Shipping Fighting The Waves
Braemar Shipping Services PLC reported a sharp decline in pretax profit for the first half of its financial year on Tuesday, hit by difficult conditions in a number of its key end markets, reports Alliance News. In August, Braemar warned its results for the year to the end of February 2017 will be "materially lower" than the prior year, with softer activity levels and freight rates amid a "marked slowdown" in the tanker segment dragging on its shipbroking revenue. The group's…
Diversification Strengthens Vard’s Order Book
Designer and builder of specialized vessels Vard Holdings Limited announced its financial results for the third quarter ended September 30, 2016 (3Q 2016) and nine months ended September 30, 2016 (9M 2016). VARD said its diversification strategy is continuing to yield promising results, generating strong order flows in 3Q 2016. A total of seven new contracts were garnered by the group during the quarter, in addition to the confirmation of an order for four ice-class expedition…
Hoover Ferguson acquires Uniteam business
Hoover Ferguson Group (Hoover Ferguson), the global leader in container, workspace and packaging solutions for the energy and petrochemical industries and general industrial enterprises, has acquired the rights and obligations of Uniteam Holding AS’s (Uniteam’s) offshore container rental business. The transaction, which includes a specified fleet of standard and customized offshore containers in Norway and Malaysia, increases Hoover Ferguson’s established portfolio within the Norwegian oil and gas market and strengthens the Group’s footprint in Asia.